Smartt Concept: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Smartt Concept
Largest movements
- Receivables within one year +€132,862
up €132,862 (+248.8%), from €53,392 to €186,255
of which Other amounts receivable: +€106,288
- Receivables after one year -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash -€47,394
down €47,394 (-75.8%), from €62,550 to €15,156
mainly Receivables within one year (-€132,862) and Contributions, distributions and other (-€112,612)
- Deferred charges and accrued income +€5,422
up €5,422 (+60.5%), from €8,956 to €14,378
- Tangible fixed assets -€2,705
down €2,705 (-23.4%), from €11,576 to €8,872
of which Plant, machinery and equipment: -€1,965
- Other debts +€112,612
new in 2025: €112,612
- Reserves -€108,491
down €108,491 (-57.3%), from €189,271 to €80,780
- Tax, wage and social debts -€8,715
down €8,715 (-56.8%), from €15,354 to €6,640
- Trade debts -€7,920
down €7,920 (-25.5%), from €31,010 to €23,090
- Gross operating margin -€43,692
down €43,692 (-78.6%), from €55,564 to €11,872
- Taxes -€12,186
down €12,186 (-79.4%), from €15,354 to €3,169
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €236,635 | €224,820 | -€11,815 | -5.0% |
| Fixed assets | 21/28 | €11,736 | €9,032 | -€2,705 | -23.0% |
| Tangible fixed assets | 22/27 | €11,576 | €8,872 | -€2,705 | -23.4% |
| Plant, machinery and equipment | 23 | €2,619 | €654 | -€1,965 | -75.0% |
| Furniture and vehicles | 24 | €8,958 | €8,217 | -€740 | -8.3% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €224,899 | €215,789 | -€9,110 | -4.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100.0% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €53,392 | €186,255 | +€132,862 | +248.8% |
| Trade receivables | 40 | €46,124 | €72,699 | +€26,574 | +57.6% |
| Other amounts receivable | 41 | €7,268 | €113,556 | +€106,288 | +1462.4% |
| Cash at bank and in hand | 54/58 | €62,550 | €15,156 | -€47,394 | -75.8% |
| Deferred charges and accrued income | 490/1 | €8,956 | €14,378 | +€5,422 | +60.5% |
| Total equity and liabilities | 10/49 | €236,635 | €224,820 | -€11,815 | -5.0% |
| Equity | 10/15 | €190,271 | €81,780 | -€108,491 | -57.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €189,271 | €80,780 | -€108,491 | -57.3% |
| Distributable reserves | 133 | €189,271 | €80,780 | -€108,491 | -57.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €46,364 | €143,041 | +€96,677 | +208.5% |
| Amounts payable within one year | 42/48 | €46,364 | €142,342 | +€95,978 | +207.0% |
| Trade debts | 44 | €31,010 | €23,090 | -€7,920 | -25.5% |
| Suppliers | 440/4 | €31,010 | €23,090 | -€7,920 | -25.5% |
| Taxes, remuneration and social security | 45 | €15,354 | €6,640 | -€8,715 | -56.8% |
| Taxes | 450/3 | €15,354 | €6,640 | -€8,715 | -56.8% |
| Other amounts payable | 47/48 | - | €112,612 | +€112,612 | |
| Accrued charges and deferred income | 492/3 | - | €699 | +€699 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,402 | €5,557 | +€155 | +2.9% |
| Other operating charges | 640/8 | €1,473 | €1,092 | -€381 | -25.9% |
| Gross operating margin | 9900 | €55,564 | €11,872 | -€43,692 | -78.6% |
| Operating profit (loss) | 9901 | €48,689 | €5,223 | -€43,466 | -89.3% |
| Financial income | 75/76B | €2,912 | €2,592 | -€320 | -11.0% |
| Recurring financial income | 75 | €2,912 | €2,592 | -€320 | -11.0% |
| Financial charges | 65/66B | €490 | €525 | +€35 | +7.1% |
| Recurring financial charges | 65 | €490 | €525 | +€35 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €51,111 | €7,290 | -€43,821 | -85.7% |
| Income taxes | 67/77 | €15,354 | €3,169 | -€12,186 | -79.4% |
| Profit (loss) for the period | 9904 | €35,756 | €4,121 | -€31,635 | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,756 | €4,121 | -€31,635 | -88.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.